Larry's Blog
Navigating America's Lost Political Journey
August 24, 2009
On today’s Op-Ed page in the Financial Times, columnist Clive Crook argues that the slumping Obama Presidency does not reflect unfavorable external circumstances but rather political ineptness by the president and his advisors especially on healthcare reform. Both mistakes of substance and tactics have been made. The administration is not learning from its errors but […] More
Central Bank Watch
Hungarian Benchmark Rate Sliced to 8.0% From 8.5%
August 24, 2009
The Magyar Nemzeti Bank two-week bill rate was reduced to a 16-month low of 8.0% as expected. This benchmark policy rate has dropped 350 basis points since its peak of 11.5% from last October 22nd through November 20th. Four 50-bp cuts were implemented by January 19. After a half-year pause, there was a 100-bp reduction […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Euroland Industrial Orders Posted Sharp Gain in July
August 24, 2009
Investors less fearful about taking risk. Stocks in the Pacific Rim advanced 3.4% in Japan, 3.2% in Australia, 2.8% in Taiwan, 2.0% in South Korea, 2.2% in India and Pakistan, 1.3% in Thailand, 2.7% in Singapore and 1.7% in Vietnam. Stocks in Britain, Germany and France are 0.8% higher. The yen, which trades positively with […] More
